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Sun, 21 Mar 2010 | 21:27 GMT
Sun, Mar 21, 2010, 21:27 GMT
 

  • India's Bharti says funds raised for Zain buyout


    Indian telecom giant Bharti Airtel said on Sunday it had raised 8.3 billion dollars to finance its proposed takeover of the African unit of Kuwait's Zain telecom group. AFP - 21Mar 14:09GMT
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  • Kuwaiti MPs oppose deal for French Rafale warplanes


    An Islamist parliamentary bloc in Kuwait on Sunday warned the government against the planned purchase of French-made Rafale warplanes, saying the deal was "suspicious." AFP - 21Mar 13:53GMT
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  • Kuwaiti Ministry of Public Works 5-yr budget at KD 3.1 billion


    The Ministry of Public Works in Kuwait was allotted a sum of KD 3.129 billion in the state's development plan covering the years 2009-2013, Minister Fadhel Safar said. KUNA (Kuwait News Agency) - 21Mar 11:56GMT
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  • Kuwait's Wataniya Airways incurs heavy loss in 2009


    Kuwait's private carrier Wataniya Airways on Sunday posted a loss of 37.8 million dollars in 2009 compared to a shortfall of just 5.4 million dollars the previous year. AFP - 21Mar 11:19GMT
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  • Kuwait Expatriate Workforce Falls For Second Year


    Oil-rich Kuwait's expatriate workforce dipped last year for the second time in a row, impacted by the global economic downturn, according to official figures. AFP - 21Mar 11:15GMT
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  • Kuwait pleased with OPEC's decision to keep production ceiling unchanged


    Kuwaiti Minister of Oil Sheikh Ahmad Al-Abdullah Al-Sabah commended Saturday OPEC member states' decision to keep current production ceiling unchanged at 24.8 million barrels per day (bpd). KUNA (Kuwait News Agency) - 21Mar 11:14GMT
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  • GCC contracts up 11.4% in 2009


    Construction contracts awarded in the GCC increased a total of 11.4 per cent to reach $142.4 billion (Dh522.98bn) in 2009.Surprisingly, despite the gloom and doom scenario, Q4 2009 recorded the highest value of contract projects awarded in 2009, totalling $61.6bn, a 63 per cent increase from Q3 2009. Emirates Business 24/7 - 21Mar 11:05GMT
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  • Major hotel project in Fes completed through Kuwaiti investment


    A major hotel project was completed and the hotel officially inaugurated in a grand ceremony here Saturday night, made possible through investment and capital provided by Kuwaiti Tameer Real Estate Investment Company. KUNA (Kuwait News Agency) - 21Mar 10:50GMT
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  • Kuwaiti MoH puts off payment of increments


    Kuwaiti Ministry of Health (MoH) has postponed the payment of the newly approved salary increment to Kuwaiti nurses and expatriate doctors until April due to the questionable calculation and allocation of a budget for this purpose, reports Awan daily quoting sources. Arab Times - 21Mar 10:48GMT
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  • 1.7% Increase In GCC Unemployment Rate Expected This Year


    Quoting the latest findings of the 'GCC Unemployment: Sustainable Economies' report, TalentRepublic.net has revealed that the unemployment rate in the GCC has reached 8.8 per cent in 2009 and is poised to increase to 10.5 per cent in 2010. Press Release - 21Mar 08:47GMT
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Zawya Select
ZawyaSelect
Islamic Finance
Hurt In Court
An English court has ruled that Investment Dar did not have to stick to the terms of an Islamic loan because the contract did not comply with Sharia law. This could inflict more harm on the industry.
 
 
Financial Services
Rebuilding Citi
Citigroup plans to step up its activities in the oil-rich Gulf to rebuild its long-established regional franchise that has been tarnished by disputes with regional investors.
 
 
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Gulf companies are rarely known for transparency and often become even more opaque at times of financial distress. But Global Investment House, a Kuwaiti investment bank that defaulted in December 2008, has chosen another tack.
 
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  Company Country Market
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1 Mobile Telecommunications Company Kuwait 20,126
2 National Bank of Kuwait Kuwait 12,916
3 Kuwait Finance House Kuwait 9,832
4 Commercial Bank of Kuwait Kuwait 4,009
5 Gulf Bank Kuwait 3,084
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